Almost Daily Grant's

“Almost Daily” is the end-of-day delectation from Grant’s.

ADG tells you what happened. It speculates on what may happen and tracks and develops Grant’s themes. Look for it after the New York close of trading—almost daily.

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Tuesday, June 19, 2018

We'll make it up on volume

Dance of the living dead
Mixed signals abound in the U.S. corporate credit market.

Recap June 19

Friday, February 22, 2019

Smothered
Cleanup in aisle four.

Recap Feb. 22

Thursday, February 21, 2019

Loan ranger

QT progress report

Recap Feb. 21

Tuesday, February 19, 2019

Art of the deal
Deficit reduction, outside the box.

Credit check
The bull run in junk bonds continues apace,

Recap Feb. 19

Thursday, February 14, 2019

Halt, and catch fire?
On a Monday earnings call, Rachelle Girard, Cameco Corp. (CCJ on the NYSE)

QT progress report

Recap Feb. 14

Wednesday, February 13, 2019

I thought you were pre-med?
This morning,

Print and frame
Today,

Capital punishment
Call waiting.

Recap Feb. 14

Tuesday, February 12, 2019

Funny how time slips awaty
Private equity to the rescue.

Recap Feb. 12

Monday, February 11, 2019

Snap-chat
The streak lives on.

Recap Feb.11

Friday, February 8, 2019

Xi student
The trade war grinds on.

Recap Feb. 8

Thursday, February 7, 2019

Bottom of the barrel
Explosive growth in U.S. crude production continues apace,

Recap Feb. 7

Tuesday, February 5, 2019

Crocodile done deed
A crackdown in the Lucky Country?

Recap Feb. 5

Monday, February 4, 2019

Drop a 'Digm
The junk-bond revival continues apace.

Recap Feb. 4

Friday, February 1, 2019

Lockedchain
The downsides of digital security. From CoinDesk:

Pocket dial
Yesterday, Sprint Corp. (S on the NYSE) reported better-than-expected third quarter figures,

Recap Feb. 1

Thursday, January 31, 2019

T Pain
Yesterday was a big day for monetary policy,

QT progress report

Recap Jan. 31

Wednesday, January 30, 2019

Dancing in the Streets
New data from the European Central Bank comes to an interesting conclusion

Zuck Tales
The hits keep coming for Facebook, Inc. (FB on the Nasdaq).

Recap Jan. 30

Tuesday, January 29, 2019

Scoreboard watching
Let’s take a look at the early returns for fourth quarter earnings season:

All groan up
One defining feature of the ongoing earnings rush: Un-bullish tidings from the Middle Kingdom.

Recap Jan. 29

Monday, January 28, 2019

Strength in numbers
Fact of the day, from Bloomberg:

Mine over matter
This morning, chip maker and hardware company Nvidia Corp. (NVDA on the Nasdaq)

Recap Jan. 28

Friday, January 25, 2019

Italian wedding
“Super Mario” isn’t finding things so super.

Recap Jan. 25

Thursday, January 24, 2019

We must protect this planet
From a blog post on Virgin Galactic’s website:

Junk food
The high yield drought is over.

Margin bawl
Behold the peculiar tale of Jiayuan International Group Ltd. (code 2768 on the Hong Kong Stock Exchange).

QT Progress report

Recap Jan. 24

Tuesday, January 22, 2019

Rock and a hard place
It’s not just a seasonal deep freeze.

Recap Jan. 22

Friday, January 18, 2019

Hope springs eternal

Great Wall of worry
Good times are here again.

Dancing in the dark

Recap Jan. 18

Thursday, January 17, 2019

The man who really knew

Welcome to the 'Rock

QT Progress report

Recap Jan. 17

Wednesday, January 16, 2019

Gotta serve somebody
From this morning’s edition of The Wall Street Journal:

More money – more good?
According to data released on Monday from China’s General Administration of Customs,

Recap Jan. 16

Tuesday, January 15, 2019

A reason to move
Rampant fuel theft in Mexico

Recap Jan. 15

Monday, January 14, 2019

A negative art
This morning, San Francisco-based PG&E Corp.

Gold fingers
Today, Newmont Mining Corp. (NEM on the NYSE) announced its intention to buy peer Goldcorp, Inc.

Recap Jan. 14

Friday, January 11, 2019

The show must go on
From the Hollywood Reporter

Hair of the dog
It went down smooth.

Recap Jan. 11

Thursday, January 10, 2019

The money of bond kings
He said it.

QT progress report

Recap Jan. 10

Tuesday, January 8, 2019

Freddie Murky-re

Recap Jan. 8

Monday, January 7, 2019

Supply side

Recap Jan. 7

Friday, January 4, 2019

Herding behavior
Contrarianism has its benefits.

Apples and oranges
According to a report from Bloomberg on Wednesday,

Recap Jan. 4

Thursday, January 3, 2019

Carried out
Strange doings afoot.

Shelter from the storm

QT Progress report

Recap Jan. 3

Wednesday, January 2, 2019

Pancake breakfast
In with the new.

To greener pastures
The new U.S. Census Bureau population survey for the 12-months ended July 1 finds that Illinois

Recap Jan. 2

Friday, December 21, 2018

Over a barrel
Timing is everything.

Loan shark
Let’s do a status check on the leveraged loan market,

Recap Dec. 21

Thursday, December 20, 2018

A turn in the tide
James Grant writes

Northern exposure

QT Progress report

Recap Dec. 20

Wednesday, December 19, 2018

Recap Dec. 19

YouWork
Yesterday, Japanese telecom concern SoftBank Corp. (code 9434)

Diploma see
Yesterday, Bloomberg reported that Georgetown University,

Tuesday, December 18, 2018

Polly want a virtual assistant

Status quotient
No one puts Baby in a corner.

Recap Dec. 18

Monday, December 17, 2018

Liquid gold

Recap Dec. 17

Tuesday, December 11, 2018

Markets make opinions; central banker edition

Help wanted: Project manager

Recap Dec. 11

Monday, December 10, 2018

Job openings at Bloomberg

Phone home

Recap Dec. 10

Friday, December 7, 2018

Cancun swoon
Last Saturday, left-wing populist Andrés Manuel López Obrador (AMLO for short)

Recap Dec. 7

Thursday, December 6, 2018

Board games
This bellwether got rung.

QT progress report

Recap Dec. 6

Wednesday, December 5, 2018

Schumpeter-ism, with Chinese characteristics
Creative destruction, by government fiat.

Franchise player
The beef wars are raging.

Tuesday, December 4, 2018

So much for the honeymoon
From Reuters:

Curve sketching
Big doings in the government bond market.

Recap Dec. 4

Monday, December 3, 2018

The end of the beginning
The training wheels are coming off.

Recap Dec. 3

Friday, November 30, 2018

Mobile command
Will Uncle Sam sign off on the proposed merger between T Mobile U.S., Inc. and Sprint Corporation,

Game of Monopoly
“There are now more indexes than stocks,” blared a May 2017 Bloomberg headline.

Recap Nov. 30

Thursday, November 29, 2018

Just a billion
From the South China Morning Post:

Plumber's crack

QT Progress report

Recap Nov. 29

Tuesday, November 27, 2018

Door busters
It’s a buyers’ market in the Big Apple.

Big River
Power up.

Recap Nov. 27

Monday, November 26, 2018

China chalet
Two ships in the night.

Recap Nov. 26

Wednesday, November 21, 2018

Sturm und Drang

Tuesday, November 20, 2018

Tipping point
For the first time since 2008, high-yield and investment-grade Bloomberg Barclays benchmark indices priced in both euros and dollars are poised

Recap Nov. 20

Monday, November 19, 2018

Bailout brigade
Somebody will have to pay.

Recap Nov. 19

Friday, November 16, 2018

Supply managment
Things are heating up a bit on the speculative end of the credit spectrum.

Chip which
Crypto’s doppelganger indeed.

Thursday, November 15, 2018

Delinquent youth
On Tuesday, Pennsylvania-based regional bank Customers Bancorp, Inc. (CUBI on the NYSE) announced it would restate

Bad dream
Crypto awoke with a start yesterday,

QT Progress report

Recap Nov. 14

Tuesday, November 13, 2018

Venture land
Here comes the Son.

Recap Nov. 13

Monday, November 12, 2018

Going south
Investors are learning the hard way to expect the unexpected in Mexico.

Recap Nov. 12

Friday, November 9, 2018

Ham and wry
Covenant-lite, with Chinese characteristics.

Steady as she goes
The knives are out in the energy patch.

Recap Nov. 9

Thursday, November 8, 2018

No shirt, no shoes, no problem
The economy is booming.

QT progress report

Recap Nov. 8

Wednesday, November 7, 2018

Out from the cold
Swiss luxury brand Hublot is launching a new line of watches with an unusual twist.

Surprise!
Now, this is passive.

Recap Nov. 7

Tuesday, November 6, 2018

Night rider
Move over, motorists.

Ships in the night
Uncle Sam may be drowning in red ink, but local government balance sheets continue to improve.

Recap Nov. 6

Monday, November 5, 2018

Slim pickings
Behold, the accommodating credit markets of 2018.

Something borrowed
A pair of anecdotes, from Bloomberg:

Evergreen
Is the world’s second-largest economy preparing to once again rev the stimulus engines?

Recap Nov. 5

Thursday, November 1, 2018

He said it
Here’s BlackRock, Inc. CEO Larry Fink,

Bond Street
Let’s call it high-er yield.

QT Progress report

Recap Nov. 1

Tuesday, October 30, 2018

No limit hold 'em
The Bank of Japan concludes its two-day policy meeting tomorrow,

Recap Oct. 30

Monday, October 29, 2018

Pile up

Bolso would

Recap Oct. 29

Friday, October 26, 2018

Recap Oct. 26

Paper trade
From Fox News:

Wild Turkey
Is the crisis abating in the land of Erdogan?

Thursday, October 25, 2018

Recap Oct. 25

Till the medicine takes

QT Progress report

Wednesday, October 24, 2018

Recap Oct. 24

From where you sit
Last week, a pair of Deutsche Bank AG traders were convicted of conspiracy and wire fraud charges

Term paper
It’s a changing of the guard.

Tuesday, October 23, 2018

Recap Oct. 23
Another volatile trading

Relationship counseling
The high yield drought continues.

High jump
The irresistible force meets the immovable object.

Monday, October 22, 2018

Don't shoot the messenger

Store credit
The economy is firing on all cylinders.

Recap Oct. 22

Friday, October 19, 2018

Agent provocateur
From Reuters:

He said it
“Some of the analysts who can’t read numbers.”

Bad back

Recap Oct. 19

Thursday, October 18, 2018

Road to nowhere

QT progress report

Recap Oct. 18

Tuesday, October 16, 2018

On the back foot
It was a familiar scene to many a fund manager.

Recap Oct. 16

Monday, October 15, 2018

Rest' stop
Tough times continue apace for the restaurant industry,

Recap Oct. 15

Friday, October 12, 2018

Recap Oct. 12

Tesla searches for liquidity
From Business Insider:

Honor among thieves
On Tuesday, Coindesk.com reported an eye-catching development in the digital currency realm:

Wide bloat

Thursday, October 11, 2018

Opposite day
Kanye West visited the White House today.

Squeeze, Inc.

QT Progress report

Recap Oct. 11

Wednesday, October 10, 2018

Flying squirrel. Grounded.
From the Associated Press:

And so it came to pass
During yesterday’s 2018 Grant’s fall conference at the Plaza Hotel

Still the epitome of the cycle
They’re looking to make it official.

Recap Oct. 10

Monday, October 8, 2018

Potemkin village
Down goes the renminbi.

Recap Oct.8

Friday, October 5, 2018

Cooking with gas
On Wednesday,

Basis pointers
The selloff in U.S. Treasury bonds has accelerated in recent days,

QT Progress report

Recap Oct. 5

Tuesday, October 2, 2018

They ate the cake
Another large deal is in the books.

Correction

Recap Oct. 2

Monday, October 1, 2018

Are we there yet?
Mission accomplished.

Sold to you
While bitcoin is down 63% from its December peak, enthusiasm for the digital ducats remains brisk.

Recap Oct. 1

Thursday, September 27, 2018

Tip of the iceberg
No news is good news.

QT progress report

Recap Sept. 27

Wednesday, September 26, 2018

Rigamarole
Wither the drillers?

Recap Sept. 26

Tuesday, September 25, 2018

Fancy restaurant
It’s leverage on top of leverage.

Recap Sept. 25

Monday, September 24, 2018

The Negotiator

Recap Sept. 24

Friday, September 21, 2018

Your Latest Trick
British rock band Dire Straits,

Help really wanted
Inflation is stirring.

Recap Sept. 21

Thursday, September 20, 2018

Leverage lamentation
With apologies to Homer Simpson, here's to debt: The cause of, and solution to, life's financial problems.

QT progress report

Recap Sept. 20

Tuesday, September 18, 2018

Muppets take Manhattan

Attention: deficit disorder

Recap Sept. 18

Friday, September 14, 2018

In other news
From Agence-France-Presse:

Tail wags the dog

Recap Sept. 14

Thursday, September 13, 2018

Playing Ketchup
It’s been a tale of two halves for the Kraft Heinz company.

QT progress report

Recap Sept. 13

Wednesday, September 12, 2018

GoFundTheUniverse
Yesterday, from Bloomberg:

Low energy

Recap Sept. 12

Tuesday, September 11, 2018

Fine print foibles
The books are open.

Recap Sept. 11

Monday, September 10, 2018

Wealth defect
Over the weekend, Global Financial Crisis-era policymakers Ben Bernanke, Timothy Geithner and Henry Paulson brought the band back together

Ma Ma, hey hey
While the U.S. stock market maintains its upward trajectory,

Recap Sept. 10

Friday, September 7, 2018

Clickbait
"Senators, let me be clear:

Recap Sept. 7

Thursday, September 6, 2018

Multiple personalities

QT progress report

Recap Sept. 6

Tuesday, September 4, 2018

First shall be last

Recap Sept. 4

Friday, August 31, 2018

Dog day afternoon

Recap Aug. 31

Thursday, August 30, 2018

Back to the Future
It sounds vaguely familiar: A potent U.S. bull market runs headlong into an emerging markets crisis.

Great moments in corporate communications
Yesterday, China Properties Group Ltd. (1838 on the Hang Seng) reported

QT Progress Report

Recap Aug. 30

Wednesday, August 29, 2018

Turkish bath

Recap Aug. 29

Tuesday, August 28, 2018

Bean oh
Today, the Invesco Deutsche Bank Agriculture Fund ETF (DBA on NYSE Arca),

Recap Aug. 28

Monday, August 27, 2018

Forest for the trees

Recap Aug. 27

Friday, August 24, 2018

No context, no problem
Your headline of the day (year?), from the Miami Sun Sentinel:

Take it all
A changing of the guard is afoot in the Big Apple.

Correction

Recap Aug. 24

Thursday, August 23, 2018

Canada dry

QT progress report

Recap Aug. 23

Tuesday, August 7, 2018

Earplugs optional
Grist for a potential sequel to Dazed and Confused?

Dark Star
Silence is golden, usually.

Recap Aug. 7

Monday, August 6, 2018

Post pattern
Cleanup in aisle three.

Recap August 6

Friday, August 3, 2018

Down in the bottom
From Denver’s NBC9 news:

Step Brothers
Like Frank Costanza, King dollar is a Phoenix, rising from Arizona.

Recap August 3

Thursday, August 2, 2018

The Producers

QT progress report

Recap August 2

Wednesday, August 1, 2018

What lies beneath

Correction

Recap August 1

Tuesday, July 31, 2018

Shiver me cryptos
On July 18,

C.C.C. Rider
Happy days are here for holders of some of the dodgiest credits around.

Recap July 31

Monday, July 30, 2018

The Hangover
It wasn’t much of a party.

Recap July 30

Friday, July 27, 2018

CHHIIIINAAA!
Deleveraging, we hardly knew ye.

Recap July 27

Thursday, July 26, 2018

Zuck Zuck goose
A bump in the road, or something more?

QT progress report
The break is over.

Recap July 26

Tuesday, July 24, 2018

Tool time
Set it and forget it.

Recap July 24

Monday, July 23, 2018

Offer wanted
As the Fed tightens and the ECB discusses the end of EZ-money, whither the Bank of Japan?

Recap July 23

Friday, July 20, 2018

Trump tweets

Yuan headlight

Recap July 20

Thursday, July 19, 2018

Bernank the tank
Tough crowd.

QT progress report

Recap July 19

Wednesday, July 18, 2018

Turkey club

Recap July 18

Tuesday, July 17, 2018

Now is the winter of our streaming content
The bulls received a jump scare straight out of Stranger Things.

Recap July 17

Monday, July 16, 2018

Hello Altice
Many happy returns in the corporate bond market.

Recap July 16

Friday, July 13, 2018

Community-adjusted protein
WeWork, you never disappoint. From Bloomberg:

You get what you pay for
It’s the private-sector version of the “zero lower bound.”

Recap July 13

Thursday, July 12, 2018

Two ships in the night

QT progress report

Recap July 12